ALM concludes A320neo sale and leaseback with Spirit Airlines

13th January 2023: Aircraft Leasing & Management (“ALM”), a wholly owned subsidiary of Fuyo Lease Group (“Fuyo”) announced today the conclusion of sale and leaseback agreements for five Airbus A320neo aircraft with a new customer in the USA, Spirit Airlines, Inc. (“Spirit”).

Spirit Airlines is a leading U.S.-based commercial carrier serving more than 90 destinations across the U.S., Latin America and the Caribbean. The company expects to take delivery of all five neos in 2023-2024.

Richard Dudley-Cave, Head of Marketing ALM said: We are extremely proud to sign these lease agreements with Spirit and welcome the airline as a new customer to Fuyo’s aircraft portfolio. We are looking forward to forging a strong partnership with the airline on the back of this first sale and leaseback between the two companies. This transaction serves to demonstrate Fuyo’s commitment to growth in its aviation business by investing in the newest generation fuel efficient aircraft.

Simon Gore, Vice President and Treasurer Spirit Airlines said: We are pleased to start a relationship with Fuyo Lease Group and ALM as we continue to grow our fleet and expand our international network of destinations. Spirit operates one of the youngest and most fuel-efficient fleets in the industry, and each of these new aircraft will allow us to continue to deliver the best value in the sky.